Open: London Session | Forex, Metals, Oil, Agriculture February 22, 2021



Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04 per cent to 90.32. “Commodity currencies and the pound are particularly strong against the dollar, and this trend looks set to continue,” said Yukio Ishizuki, foreign exchange strategist at Daiwa Securities. Dollar net short positioning fell last week to $29.09 billion, which is the lowest level since mid-December, according to calculations by Reuters and Commodity Futures Trading Commission data.
US dollar net shorts have fallen for four straight weeks, which shows that there are still some investors who are optimistic about the greenback. The rupee started on a strong note against the US dollar tracking the weakness of the greenback. The Australian dollar hit $0.7892, its highest since March 2018, while the New Zealand currency rose to $0.7315, its strongest since April 2018. Economic activity is gradually returning to normal in many places, which puts some pressure on the dollar.”
Against the yen, the dollar held steady at 105.45. Looking at the currency s performance against a trade-weighted basket (naturally dominated by the euro), sterling is still roughly where it was immediately after the referendum. The British pound bought $1.4030, close to a three-year high.


“A copper-plated recoveryOne of the stars has been copper, a key component of renewable technology, which shot up 7.7 per cent last week to a nine-year peak. Both iron ore and copper futures are up over 10% in 2021 yet the Aussie has barely appreciated and the Chilean peso is flat.


Brent crude futures, the global oil benchmark, advanced 1.30 per cent to USD 63.73 per barrel. Encouraging vaccine news, a busy time for oil markets and Bitcoin’s backers get a little bearish. You could also try listening to Stanlow by OMD, the only song I know about an oil refinery.Have a good week.

United States

“This, in principle, signals a better medium-term growth outlook for the US and beyond, as other core yields curves are moving in the same direction,” he added. Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis. At the same time, the Fed and the ECB are likely to continue with their QE programmes for another year at least. The Capital Spectator has been quoted by a range of news organizations, including The Wall Street Journal, Reuters and others.
Unheard of in the days when all Wall Street could say was “Buy”.


The country can still trade with the EU, at somewhat less preferential terms, and it may yet gain some small advantage from trade deals with others. After the five-year nightmare of the Brexit process, and the terrible year they suffered at the hands of the pandemic, British assets are on the floor. Britain continues to trade with the EU, on generally favorable terms, after all, and this is a massive discount to the rest of the world. 9 a.m. EU foreign affairs ministers meet in Brussels to discuss sanctions against Russia, common European defense 11 a.m.
There might have been one from the resolution of the Brexit uncertainty at the turn of the year. The rapid vaccine rollout in the UK has improved the economic outlook relative to its peers, especially in the EU. Nikos Chrysoloras and Viktoria DendrinouWhat s HappeningCircling China | The EU also doesn’t have any appetite to be as tough on China as the U.S. would want. Second, while the U.K. shot itself in the foot with Brexit, it didn t shoot itself in the head.
The stock marketEquity investors verdict on Brexit has been savagely and consistently negative. European Central Bank President Christine Lagarde and U.S. Treasury Secretary Janet Yellen are both set to speak at conferences on Monday.